Vornado Realty Trust · NYSE:VNO
Vornado Realty Trust — Citi Global Property CEO Conference 2015
14 slides from Vornado Realty Trust's conference presentation, Mar 2, 2015
Slide 1: Citi Global Property CEO Conference
Citi Global Property CEO Conference March 2, 2015
Slide 2: Forward-Looking Statements
Forward-Looking Statements The investor presentation and the related discussion may contain forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward- looking statements are
Slide 3: Vornado Realty Trust – Who Are We?
Vornado Realty Trust – Who Are We? Vornado has a concentration of premier assets and a focused strategy of growing its dominant positions in Manhattan office and street retail and Washington, DC office $35 billion market value balance sheet ($111.26 stock price as of 2/19/2015) Cash position t
Slide 4: New York Office Properties
New York Office Properties 666 Fifth Avenue 350 Park Avenue Penn Plaza Portfolio 1290 Avenue of the Americas 280 Park Avenue 330 Madison Avenue 20 Broad Street 888 Seventh Avenue 731 Lexington Avenue 650 Madison Avenue 4 4
Slide 5: Manhattan Street Retail
Manhattan Street Retail 666 Fifth Avenue 759-771 Madison Avenue 828-850 Madison Avenue 689 Fifth Avenue 655 Fifth Avenue 510 Fifth Avenue 595 Madison Avenue 650 Madison Avenue 5 5
Slide 6: New York properties EBITDA and cap rates
New York 68 properties totaling 29.7 million SF VNO net ownership 22.8 million SF Value Square EBITDA YE 2014 Feet (in millions) Capiti EBITDA/ YE YE Cap Rate (in millions) 2013 2014 Rates(1) (in millions) Office 17.7 584.8 623.2 4.2% 14,838 (2) Retail 2.8 274.2 331.7 3.7% 8,965 Hotel 1.1 31.0 3
Slide 7: Washington, DC Office Properties
Washington, DC Office Properties The Warner Building The Warner 2101 L Street The Bowen Building 1999 K Street 7
Slide 8: Crystal City
Crystal City VORNAD
Slide 9: Washington, DC
Washington, DC 94 properties totaling 25.4 million SF VNO net ownership 17.5 million SF EBITDA Value Square (in millions) YE 2014 EBITDA/ Feet YE YE Cap Cap Rate (in millions) 2013 2014 Rates (1) (in millions) Office: The District 2.8 80.9 87.6 5.2% 1,685 3.1 M SF Crystal City 7.4 146.8 141.8 6.
Slide 10: Other Assets
Other Assets 1 555 California Street (Bank of America Tower), San Francisco, CA theMART, Chicago, IL 0
Slide 11: Other Assets
Other Assets EBITDA Value (in millions) YE 2014 EBITDA/Cap Number of Square Feet YE YE Rate Properties (in millions) 2013 2014 Cap Rates(1) (in millions) Residual Retail Properties not included in 11 1.9 11.8 11.3 10.0% 113 spin off to Urban Edge Properties 555 California Street 3 1.3 42.7 48.9 4.2%
Slide 12: Appendix
Appendix This investor package and the related discussion contain certain non-GAAP financial measures, including Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”). EBITDA is presented before noncontrolling interests, discontinued operations, gains on sale of real estate and
Slide 13: Reconciliation of Net Income to EBITDA
Appendix Reconciliation of Net Income to EBITDA and EBITDA as adjusted for comparability for the Years Ended December 31, 2014 and December 31, 2013 (Amounts in thousands) New York Washington, DC 12/31/2014 12/31/2013 12/31/2014 12/31/2013 Net income 868,596 546,061 100,001 98,390 Interest and debt
Slide 14: Vornado Realty Trust
VORNADO REALTY TRUST
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